Posted by Tony Cooper on 05/20/06 04:36

On Sat, 20 May 2006 00:19:08 -0400, Dick Sidbury
<DrJamesSidbury@hotmail.com> wrote:

>In article <uabbg.7165$z97.172033@news20.bellglobal.com>,
> "Amun" <spamblocker@bell.net> wrote:
>
>>
>> The analogy is quite applicable.
>> If you drive a car you can't just claim to "self insure", or you will spend
>> a lot more than you save in fines, or getting your car back from the impound
>> lot..
>
>Actually in most states you can self-insure, you merely need to have
>sufficient funds in escrow to cover certain levels of liability. The
>law also requires you to actually have the money in escrow and forms
>signed. It appears that Ebay doesn't. So don't use them if their rules
>(or lack of them) bothers you.

Any automobile owner is self-insuring in some way. If you have "full"
coverage, you are self-insuring the amount of the deductible. You are
self-insuring the amount of liability over the liability cap on your
policy. If you have less than "full" coverage, you may be
self-insuring damage to your own vehicle but insured for damage to
other vehicles.

In Florida, the state only requires $10,000 in PIP and $10,000 in PDL
coverage. If the car is financed, the finance company may require
additional insurance, but the state doesn't.




--


Tony Cooper
Orlando, FL

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